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BOS sues couple over $101,156 loan
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Posted on May 04 2008
Bank of Saipan Inc. has sued a couple for allegedly failing to pay a $101,156.59 loan.
BOS, through counsel S. Joshua Berger, asked the Superior Court to order Jung Eun Teack and his wife Mi Soon Jung Jeon to pay the amount plus accruing interest, court costs, and attorney’s fees.
BOS requested the court to direct the Korean couple to pay the amount into the Registry of the Court within three months of the court’s order or that their leasehold interest on a property be sold at public auction.
Berger stated in the complaint that the mortgage at-issue was executed by the defendants on Feb. 16, 2006.
Berger said the real property at-issue to be foreclosed is the couple’s 55-year leasehold interest on a lot.
The lawyer said the original loan was $111,724.28, but that as of Feb. 20, 2008, defendants still owe the bank $101,156.59.
He said that on Feb. 20, 2008, a notice of default was issued by plaintiff as required by the law and hand-delivered to Teach.
“Greater than 30 days has elapsed since service of the notice of default upon the defendant and yet defendants have failed to cure the default,” Berger said.
